Insurance Europe comments on IAIS proposed methodology for identifying systemically risky insurers

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      <subfield code="a">Insurance Europe comments on IAIS proposed methodology for identifying systemically risky insurers</subfield>
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      <subfield code="a">Insurance Europe recognises that all financial sectors, including insurance, should be assessed for their potential to pose systemic risks, in order to facilitate the protection and development of a stable and sustainable international financial system. In this regard, It welcomes the work conducted by the IAIS in this area in recent years and appreciates the opportunity given to comment on the draft methodology. It regrets that this position is not sufficiently reflected in the proposed methodology, which is based on the indicator-based approach applied by the Basel Committee on Banking Supervision for banks and as a result does not reflect the significant differences between business models in the two sectors. In your view, in insurance the focus should be on specific activities that can generate systemic risk, not on individual institutions</subfield>
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